SAP FICO, MM, and SD are best suited for Commerce Graduates
Let's first understand About SAP.
SAP stands for System Application Product in Data Processing, It is an ERP software ( Enterprise Resource Planning ). Basically, ERP software is the software that is used for managing the data of an enterprise/company.
SAP is one of the world's leading producers of software for the management of business processes, developing solutions that facilitate effective data processing and information flow across organizations.
Traditional business models often decentralize data management, with each business function storing its own operational data in a separate database. This makes it difficult for employees from different business functions to access each other's information. furthermore, duplication of data across multiple departments increases IT storage costs and the risk of data errors.
By centralizing data management, SAP software provides multiple business functions with a single view of the truth. The helps companies better manage complex business processes by giving employees of different departments easy access to real-time insights across the enterprise. As a result, businesses can accelerate workflow, improve operational efficiency, raise productivity, enhance the customer experience - and ultimately increase profites.
SAP FICO - Finance & control
SAP FICO is an important core functional component in the SAP ERP Central Component that allows an organization to manage all of its financial data. SAP FICO allows an organization to store a complete version of their financial transaction data. Specifically, the purpose of SAP FICO is to help companies generate and manage financial statements for analysis and reporting, as well as to aid in effective business planning and decision-making.
SAP FICO consists of two sections, SAP Finance (FI) and SAP Controlling (CO). Each of which is used for a specific financial process. SAP FI deals with overall financial reporting and accounting, while SAP CO focuses more narrowly on planning and monitoring costs. SAP FI and SAP CO were originally released as separate modules but are now so tightly integrated that many people refer to them as simply one module.
SAP FICO also integrates with other SAP Logistics Modules, Including Sales and Distribution(SD), Production Planning(PP), Plant Maintenance(PM), Quality Management(QM), and Materials Management(MM).
For more Detail on SAP FICO click here!
SAP SD
Sap Sales and Distribution (SD) is an important module of SAP ERP consisting of business processes required in selling, shipping, billing a product. The module is tightly integrated with SAP MM & SAP PP. key sub-modules of SAP SD are Customer and Vendor \Master Data, Sales, Delivery, Billing, Pricing, and Credit Management.
Features of SAP SD module
Here are some important features of the SAP SD module:
- Price and Taxation:- It helps you to evaluate the price of goods and services under various conditions like rebate or discount, which is granted to a customer.
- Availability Check:- Check the availability of a product in the warehouse of an organization.
- Billing & Invoice: Helps you to generate bills or invoices.
- Material Determination: helps you to determine the details of materials on the basis of a certain condition.
- Credit Management: It is a method of managing the credit limits of the customers it can be figured in two different ways simple credit check and automatic credit check.
- Account Determination: helps you to determine the details of customers on the basis of a given condition type.
- For more Detail on SAP SD click here!
SAP MM
SAP MM (Material Management) Module is an SAP ERP component that helps organizations with material management, Inventory management, and warehouse management in the supply chain process. It is a part of SAP ECC’s logistics functions which consists of several components and sub-components. The most prominent and widely used components are Master Data, Purchasing, and Inventory.
All of these components have subcomponents that are essential in specific business processes, and all of the processes are executed by using transactions in the SAP MM process flow.
Transaction (in SAP) means processing certain information in order to complete business process requirements. For example, if you have purchased 10 pieces of litter buckets, you can perform a particular transaction code (t-code) that will reflect those changes in SAP. Most of the business processes involve multiple SAP transactions to be accomplished and are spread over one, two or more modules
- For more Detail on SAP SD click here!
For more you can visit Netweaver Technovations.
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